Custom iPhone Fitrmware..

Hi all..
I'm not to sure if this has been asked so I'm sorry if its an old question to you all.
Is it possible to make my own custom firmware for my iPhone.
I want to be able to restore whenever I need to.. and have all my fav apps included in the firmware to save re-installing.
Would come in handy also as the firmware would also have all my personal settings. "if poss"
If its possible what would I need..